Every price on a sportsbook app is a sentence in a small language. Once you know how to read betting odds, you know how much a bet costs, how much it can win and how likely the book thinks it is. This guide shows how to read sports betting odds in the format used across US sportsbooks, American odds, and for the three bets you will see most often. It also shows how to read moneyline odds, the simplest of the three, and how to read sports betting odds that include a spread. A short reminder of how to read betting odds sits in the glossary at the end. The section on the main bets explains how to read moneyline odds for a favorite and an underdog. Keep this page open as a reference for how to read betting odds when you place a bet. It uses plain examples and no jargon you have to take on trust.
How to read betting odds: American odds in one minute
American odds use a base of 100. A number with a minus sign, such as -150, shows how much you must stake to win 100, so -150 means staking 150 to win 100. A number with a plus sign, such as +250, shows how much you win on a stake of 100, so +250 means a 250 profit on a 100 stake. The minus side is the favorite, the outcome the book thinks is more likely. The plus side is the underdog.
The profit scales with the stake. At -150, a $10 stake wins $6.67 and returns $16.67 in total. The total includes your stake, while the profit does not. Most apps show the potential payout on the bet slip before you confirm, so you can check the figure against what you expect.
| Odds | Profit if it wins | Total returned | Implied probability |
|---|---|---|---|
| -150 | $66.67 | $166.67 | 60.0% |
| -110 | $90.91 | $190.91 | 52.4% |
| +110 | $110.00 | $210.00 | 47.6% |
| +250 | $250.00 | $350.00 | 28.6% |
The full treatment, with decimal odds and how to convert between formats, is on the American odds page. The odds calculator does the conversions for you.
The three main bets: moneyline, spread and totals
Moneyline
A moneyline bet is a bet on who wins, with no handicap. If the Eagles are -180 and the Giants are +150, a bet on the Eagles needs them to win, and a bet on the Giants needs them to win outright as well. It is the simplest bet and the easiest place to start. The price carries the whole difference in strength between the sides, which is why a heavy favorite pays so little.
Point spread
A spread evens up a mismatch by giving one side a head start. If a team is -6.5 on the spread, it must win by seven points or more to cover. The other side at +6.5 covers if it wins or loses by six points or fewer. Spread bets are usually priced near -110 on both sides, which is the book's way of charging for the bet. When the spread is a whole number and the margin lands exactly on it, the bet is a push and the stake is returned.
Totals
A total, also called over/under, is a bet on the combined score of both sides. If the total is 47.5, you can bet the over, which needs 48 points or more, or the under, which needs 47 or fewer. The result does not depend on who wins, only on how much is scored. Totals are also usually priced near -110 each way.
The three bets have their own page, moneyline, spread and totals, with worked examples and the cases that confuse beginners, such as pushes and half points.
What a price says about the chance
Each price carries an implied probability, the chance the price assigns to the outcome. A price of -150 implies 60%, because you stake 150 to win 100 and 150 is 60% of 250. A price of +250 implies 28.6%. When you add up the implied probabilities of both sides of a market they come to more than 100%. The excess is the sportsbook's margin, called the vig or the juice, and it is the average price you pay for placing a bet. At -110 on both sides it is 4.76%.
This matters because a price is not a forecast. It is a forecast with a fee on top. If you think a side wins more often than its price implies, the bet is worth considering, and if you do not have a view, the margin works against you over time. Prices also differ between apps, so the same bet can cost you less at one than at another, which is a reason to compare before you place it.
Other bets you will see
Parlays
A parlay joins two or more bets into one, and every leg must win for the bet to pay. The prices multiply, so the payout grows fast, and the chance of winning falls just as fast. The parlay calculator shows the payout for any combination.
Player and game props
Props are bets on events inside a game, such as a player's yards, rebounds or strikeouts. They are often priced with a higher margin than the main markets, because books have less data to anchor them.
Futures
A futures bet is on something that resolves later, such as a championship winner or a season win total. The money is tied up until the event settles, and the margin on a long list of outcomes is usually larger than on a single game.
Live betting and cash out
Live betting lets you bet while a game is in progress, and the prices move with the score and the clock. Cash out lets you settle a bet before the event ends for an amount the book offers. That amount is a price like any other, and it includes a margin, so cashing out early usually returns less than the bet is worth on average.
Common mistakes to avoid
- Reading a minus sign as a loss. It marks the favorite, not a negative result.
- Treating the profit as the total return. The stake comes back on a win, and the profit is on top.
- Ignoring the margin. Two prices of -110 look even, yet together they cost 4.76%.
- Chasing a loss with a bigger bet. A lost bet does not change the next price.
- Betting more than you can afford to lose. Set a limit before you start and keep to it.
Reading a bet slip, step by step
The bet slip is where a price becomes a bet, so it is worth knowing every line on it. Take a spread bet on a football game, -3.5 at -110, with a $55 stake. The slip shows the selection, the line and the price. It also shows the stake and the potential payout. The stake is what you risk. At -110 the profit on a $55 stake is $50, and the total return is $105, which is the stake plus the profit. If the team wins by four or more, you collect $105. If it wins by three or fewer, or loses, you lose the $55.
Check three things before you confirm. First, the line: -3.5 and -2.5 are different bets. Second, the price: if it moved since you tapped it, the app asks you to accept the change. Third, the stake and the potential payout, which should match your own sum. Apps also show a bet type, such as straight bet or parlay, and a game time. Live bets show a short countdown while the price is held.
Why favorites pay less
A price reflects how likely the outcome is judged to be, with a margin on top. A team the book thinks wins about three times in four is priced near -300, so you risk 300 to win 100. If it wins you gain little, and if it loses you lose a lot. An underdog priced at +300 returns 300 on a 100 stake and is judged to win about once in four. Neither is a better bet by default. Whether a price is attractive depends on whether you think the chance is higher or lower than the price implies, after allowing for the margin.
Why prices move
A line is not fixed. A sportsbook moves it when bettors put more money on one side, when news arrives such as an injury, a lineup change or the weather, and when other books change their prices. A spread that opened at -3 can become -3.5, and a moneyline of -150 can become -165. The move tells you where money and information went, but it does not say who is right. If you like a price, you can take it now or wait, and the price may move either way.
Odds formats around the world
Three formats describe the same prices. American odds, covered above, are used across US sportsbooks. Decimal odds show the total return per 1 staked, so 2.50 returns 2.50 for each 1 and includes the stake. Fractional odds, used in the United Kingdom and in horse racing, show profit against stake, so 3/2 wins 3 for every 2 staked. They convert into each other with simple sums, and the odds calculator does it for you.
Staking basics
How much to bet matters as much as what to bet on. A simple habit is to think in units, where one unit is a small, fixed share of the money you set aside for betting, and to risk one or two units on a bet. A bad run then costs you a few units and not your whole balance. Do not raise your stake to win back a loss, do not bet money meant for bills, and set a deposit limit in the app so the habit does not depend on willpower. The responsible gambling page lists the tools.
Where to go next
If you are new, read American odds explained and then moneyline, spread and totals. When you are ready to open an account, how to bet on an app walks through sign-up, deposits and your first bet. To check what an offer is worth, use the bonus value calculator.
A short glossary
| Term | Meaning |
|---|---|
| Favorite | The side the price says is more likely to win, shown with a minus sign. |
| Underdog | The side the price says is less likely to win, shown with a plus sign. |
| Stake | The amount you risk on a bet. |
| Vig, juice | The sportsbook's margin built into the prices. |
| Push | A tie against the line, where the stake is returned. |
| Cover | To beat the point spread. |
| Parlay | A single bet made of several legs that must all win. |
| Hold | The share of all money bet that the book keeps on average. |
If you are ready to open an account, read how to bet on an app first. It covers the steps from checking your state to your first withdrawal.
Frequently asked questions
What does -110 mean in betting?
It means you stake 110 to win 100. It is the usual price on both sides of a spread or a total, and it implies a probability of 52.4% for each side.
Is a plus or a minus better?
Neither is better in itself. A minus marks the favorite, which wins more often and pays less. A plus marks the underdog, which wins less often and pays more.
What is the easiest bet for a beginner?
A moneyline bet, because you only choose who wins. A spread or a total adds a number to understand, which is worth learning once you are comfortable with the moneyline.
Why do both sides of a spread cost -110?
The book prices both sides to attract equal money and to keep a margin. The 10 extra is the fee, and it is where the 4.76% margin comes from.
What happens on a push?
Your stake is returned and the bet is neither won nor lost. In a parlay, a pushed leg is usually removed and the rest of the bet stands, but check the app's rules.
How is a payout calculated?
At a plus price, profit is the stake times the price divided by 100. At a minus price, profit is the stake times 100 divided by the price, with the minus sign dropped. The total return is the profit plus the stake.
Why did the price on my bet slip change?
Prices move when money and news arrive. The app shows the new price and asks you to accept it before it takes the bet.
What is a unit?
A unit is a fixed, small share of the money you set aside for betting. Staking in units keeps the size of each bet consistent and limits the damage of a losing run.
Is a longer price a better value?
Not by itself. A longer price pays more but wins less often. It is good value only when the chance of winning is higher than the price implies.